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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Cash flows from operating activities:    
Net earnings $ 3,699 $ 2,592
Adjustments to reconcile net earnings to net cash provided by operating activities:    
Depreciation and amortization expense 4,703 2,820
Net gain on disposition of assets (1,871) (4,849)
Net gain on derivatives and convertible debt (603) (402)
Equity in earnings of joint venture (292) (136)
Distributions from cumulative earnings of joint venture 124  
Amortization of deferred financing costs 717 416
Loss on extinguishment of debt   800
Impairment (recovery) loss, net (93) 750
Stock-based compensation and long-term incentive plan expense 665 157
Warrant issuance costs   289
Provision for deferred taxes 169  
Changes in operating assets and liabilities:    
Increase in assets (481) (116)
Increase (decrease) in liabilities (19) 1,895
Net cash provided by operating activities 6,718 4,216
Cash flows from investing activities:    
Additions to hotel properties (1,171) (1,554)
Distributions in excess of cumulative earnings from joint venture 836 400
Hotel acquisitions (35,623) (83,619)
Net proceeds from sale of hotel assets 14,756 19,300
Net cash used in investing activities (21,202) (65,473)
Cash flows from financing activities:    
Deferred financing costs (147) (3,550)
Proceeds from long-term debt 35,318 109,000
Principal payments on long-term debt (14,817) (87,422)
Debt early extinguishment penalties   (454)
Proceeds from common stock issuance 257 45,888
Series E Preferred Stock issuance costs   (1,130)
Tax withholdings on stock compensation (175)  
Cash dividends paid to common shareholders (4,624) (2,402)
Cash dividends paid to common unit holders (35)  
Cash dividends paid to preferred shareholders (289) (1,820)
Other items   (57)
Net cash provided by financing activities 15,488 58,053
Increase (decrease) in cash, cash equivalents, and restricted cash 1,004 (3,204)
Cash, cash equivalents, and restricted cash beginning of period 10,335 13,676
Cash, cash equivalents, and restricted cash end of period 11,339 10,472
Supplemental cash flow information:    
Interest paid 3,215 1,651
Income taxes paid, net of refunds 22 88
Schedule of noncash investing and financing activities:    
Fair value of operating partnership common units issued in acquisitions $ 50 285
In kind dividends deemed on preferred stock   9,900
Debt assumed in acquisition   $ 9,096